The Trumps are once again entering the crypto market: American Bitcoin is preparing to sell shares worth $2.1 billion.
Mining has long ceased to be just a hobby for enthusiasts in garages; it is now a serious business that is also going public on Nasdaq. The company American Bitcoin, associated with Donald Trump Jr. and Eric Trump, began trading under the ticker ABTC after merging with Gryphon Digital Mining.
Apparently, real America has finally come to crypto.
Big goals and a big game
The newly minted company is not wasting any time. It immediately applied to raise $2.1 billion to continue buying bitcoins. It seems they plan not only to mine but also to aggressively increase their reserves. At the time of the merger, they already had 2,443 BTC, which is approximately equal to $160 million.
The shares themselves, of course, soared by 60% after the merger announcement — from $6.90 to $11. Just like in the best traditions of crypto: loud names, ambitious plans, and explosive growth.
True, there is one nuance: 80% of the shares of the new 'American' company belong to the Canadian mining firm Hut 8, which actually participated in its creation.
The result
The Trump family continues its active invasion into the crypto space. Now, in addition to their own tokens, they also have a public mining company. In general, you can congratulate the market: it seems that 'institutional acceptance' has reached bitcoin mining.
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